Applied Materials shares fall on high investor expectations

* Shares of chip equipment maker Applied Materials **AMAT.O** fell 5.7% to $504 in extended trading. * Q3 revenue beat estimates, but shares fell on high investor expectations heading into results. * Q3 revenue of **$9.12 billion** beat analysts' estimate of **$8.99 billion** — data compiled by LSEG. * The company forecast Q4 revenue of around **$10.25 billion ± $500 million**, compared with analysts' estimate of **$9.54 billion**. * Up to the last close, the stock was more than doubled year to date. (Reporting by Anzar Mehraj in Bengaluru)

Shares fall despite Q3 revenue beat

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